Ledger Investigates $86M Theft Linked to Reseller Devices

Hardware wallet manufacturer Ledger announced it is investigating reports that more than $86 million in cryptocurrency may have been stolen from hundreds of wallets linked to devices sold by CryptoBilis, a reseller based in Southeast Asia, according to CoinDesk.

Pseudonymous blockchain investigator Specter reported on X that funds were drained across Bitcoin, Ethereum and Tron addresses. However, neither the total financial losses nor the direct connection to the reseller have been independently verified at this stage.

Precautionary Measures and Directives

In response to the reports, Ledger asked CryptoBilis to immediately halt all sales and shipments. The hardware wallet manufacturer advised recent buyers who purchased devices from the reseller within the past 90 days not to begin setting them up.

For customers who have already activated their wallets, Ledger recommended considering the transfer of assets to a new device featuring a newly generated recovery phrase. The company noted that a supply-chain attack involving pre-tampered hardware remains a possible explanation, though the exact cause and number of affected users remain unconfirmed.

Broader Security Context

If confirmed, the incident would add to an already challenging year for crypto security. Recent major security events include an exploit affecting crypto exchange Bitget resulting in over $350 million in stolen assets, alongside incidents involving Liquid Network, Drift, and Kelp, based on DefiLlama data.

Ledger emphasized that any potential supply-chain tampering would differ from a breach of its own internal systems. The company stated it will provide further updates as the investigation progresses.

Key facts

• Ledger is investigating potential wallet tampering following reports of over $86 million in stolen cryptocurrency.
• The affected devices were reportedly sold through CryptoBilis, a reseller in Southeast Asia.
• Pseudonymous investigator Specter traced suspected theft addresses across Bitcoin, Ethereum and Tron.
• Ledger asked the reseller to pause sales and shipments while advising recent buyers not to set up their devices.